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Evolva Holding S.A.. (3/26/15). "Press Release: Evolva and Valent BioSciences to Co-develop Agricultural Bioactives".
|Organisation||Evolva Holding S.A.|
|Organisation 2||Valent BioSciences Corporation (VBC)|
|Product 2||industrial biotechnology|
|Index term||Sumitomo–Evolva: agri bioactives, 201503– collab excl developm + commercialisation of ingredient class by Valent BioSciences|
|Person||Goldsmith, Neil (Evolva 200910 CEO)|
|Person 2||Melnik, Ted (Sumitomo 201503 EVP + COO of Valent BioSciences Corp)|
Evolva (SIX: EVE) and Valent BioSciences Corporation (VBC), a subsidiary of Tokyo-based Sumitomo Chemical Company, have signed an exclusive agreement to co-develop and commercialise a class of high-value active ingredients for use as next-generation agricultural bioactives. For competitive reasons, the ingredients are not being identified at this time.
Bioactives are being used increasingly around the globe because they help growers improve crop yields without any negative effects to either human health or the environment. They are used in both organic and conventional agriculture and horticulture. Along with crop rotation and integrated pest management strategies, bioactives play an important role in sustainable farming.
The collaboration will start by developing yeast strains that make the desired ingredients. Evolva has the primary responsibility for this phase while VBC will be responsible for commercialisation. The companies will work together on scale-up and manufacturing. The first products from the collaboration are expected to be launched in 4-5 years.
Total spending on the project during the next five years is estimated at CHF 12-14 million. Evolva and VBC have agreed to split equally both the R&D costs and profits from active ingredient sales.
“Our fermentation platform is uniquely well-suited to produce a wide range of high-value, cost-effective, and sustainable ingredients, said Neil Goldsmith, CEO of Evolva. “We are delighted to be partnering with VBC to leverage this platform to develop and commercialise next-generation agricultural bioactives.”
“This collaboration aligns well with VBC’s growth strategy in the area of bioactives,” said Ted Melnik, Executive Vice President and COO of Valent BioSciences Corporation. “Our combined expertise and history of innovation provides a solid foundation for this agreement.”
– Ends –
About Evolva Holding SA
Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, vanilla, saffron and resveratrol. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com. Questions about our fermentation approach? Have a look at our video.
About Valent BioSciences Corporation
Headquartered in Libertyville, IL, Valent BioSciences is a subsidiary of Tokyo-based Sumitomo Chemical Company and is the worldwide leader in the development, manufacturing and commercialization of biorational products with sales in 95 countries around the world. Valent BioSciences is an ISO 9001:2008 Certified Company. For additional information, visit the company’s website at www.valentbiosciences.com
Neil Goldsmith, CEO Jakob Dynnes Hansen, CFO Paul Verbraeken, IR
firstname.lastname@example.org email@example.com firstname.lastname@example.org
+ 41 61 485 2005 + 41 61 485 2034 + 41 61 485 2035
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
Record changed: 2016-06-07
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